Where state participation in the extractive industries gives rise to material revenue payments, implementing countries must include disclosures from state-owned enterprises on their quasi-fiscal expenditures.

Quasi-fiscal expenditures include arrangements whereby SOE(s) undertake public social expenditure such as payments for social services, public infrastructure, fuel subsidies and national debt servicing, etc. outside of the national budgetary process.

Guyana just started production of oil. The first revenues from Guyana's oil have already flowed into government coffers, including oil royalties and revenues received from the sale of profit oil. In this context, the EITI International Secretariat is pleased to hold a webinar on commodity trading transparency in Guyana. It will include a discussion on Guyana's oil sector to-date, the EITI Standard and its work on commodity trading transparency and give the opportunity for questions from participants.

As you may know, the EITI Standard requires implementing countries to disclose information on the financial relationship between the government and the state-owned enterprise, where state participation in the extractive industries gives rise to material revenue payments. Additionally, the reporting process must comprehensively address the role of SOEs.

In preparation for the webinar, kindly read Guidance on SOEs as well as Guidance note 18 for more information on this topic.

Monday, 29 June 2020 - 12:00 CEST

For resource-rich developing countries, the Covid-19 pandemic has brought about a triple crisis: strained public health systems, a sharp decline in commodity prices and abrupt economic downturns. At this critical juncture, transparency and trust are critical in forging smart and responsive policies. As the second event in the Transparency Matters seminar series,

The 47th EITI Board meeting was held virtually on 16 and 17 June, 11:00 - 15:00 CEST. Registration for this meeting was by invitation only and closed on 15 May.

Instructions on how to join the meeting were sent to all confirmed participants ahead of the meeting.

Draft agenda of the 47th EITI Board meeting can be found below.Minutes will be uploaded on our website following the meetingFollow the highlights on Twitter with #EITIVirtual2020Learn more about the 

The EITI Standard requires that financial disclosures must be separated by projects, for fiscal years ending on, or after, 31 December 2018. For most countries, this means project-level reporting (PLR) is required in the next round of reporting, by 31 December 2020 at the latest. This webinar covered the frame of PLR and provided guidance on how national secretariats and MSGs can move towards PLR. See EITI Guidance note 29 for further details. 

Agenda and minutes is published here

Follow the meeting on Twitter with #EITIOslo2020.

Pictures of the Board meeting on Flickr

Learn more about the EITI Board 2019-2022, or about previous Board meetings

EITI stakeholders were invited to a seminar on "Why Transparency Matters in the Energy Transition: Helen Clark in conversation with Lord Adair Turner." This was the first event of a new EITI seminar series, Transparency Matters.

There were opportunities for the audience to engage in the debate. The seminar was followed by a reception with refreshments and snacks.

Find out more about the Transparency Matters seminar series

The EITI Secretariat is conducting a one-day seminar to explain the requirements under 2019 EITI Standard, focusing on beneficial ownership, contract transparency, state-owned enterprises and systematic disclosures.

The seminar will also include sessions on the role of EITI in addressing corruption, creating impact, and effectively communicating the EITI to various stakeholders.

The seminar is open to observers of the Board meeting and part of the EITI in Oslo week.